Sanmi Adebayo & Co.

11/11/2025

CSCL writes its customers on WHT deductible from short time interest earned

We are writing to inform you of a recent directive from the Federal Inland Revenue Service (FIRS) regarding the application of Withholding Tax (WHT) on interest earned from investments in short-term securities.

In line with the Companies Income Tax Act (CITA) and new WHT Regulations, the FIRS has clarified its position, and we, as your stockbroker, are mandated to ensure full compliance.

Here are the key points you need to know:

What is the change?
A 10% Withholding Tax will now be deducted from the interest earned on specific short-term securities. This deduction will be made at the point of interest payment.

Which investments are AFFECTED?
This 10% WHT directive applies to interest earned from:
• Nigerian Treasury Bills (T-Bills)
• Corporate Bonds
• Other commercial papers
Which investments are EXEMPT?
The FIRS has confirmed that the following securities remain EXEMPT from this Withholding Tax:
• Federal Government of Nigeria (FGN) Bonds
• Federal Government of Nigeria (FGN) Savings Bonds
Who does this apply to? This directive applies to all investors, including both corporate and individual clients.

How CSL Stockbrokers will handle this:
As your trusted investment partner, CSL Stockbrokers Ltd. will manage this process seamlessly for you. In compliance with the regulation, 10% WHT will be deducted from the interest earned on all affected securities at maturity and remitted directly to the FIRS.

Should you have any questions regarding this new directive or how it impacts your investments, please do not hesitate to contact us [email protected].

Thank you for your understanding and continued partnership.

Best regards
CSL Stockbrokers
A Subsidiary of FCMB Group

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I am in the office today when two persons claimed to have come from AMAC with demand note for "habitable property " and charge our firm N100,000! This levy is strange to me as I am not aware of the authority of the levy. I disputed with them and refused to acknowledge it. If there's anyone that knows the authority please educate me. I am surprised that in this era of efforts being made to consolidate multiple taxes this type of thing could still be happening!

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Psalm 121:5-7"The Lord is thy keeper: the Lord is thy shade upon thy right hand. The sun shall not smite thee by day, nor the moon by night. The Lord shall preserve thee from ALL EVIL: he shall preserve thy soul." As the year winds down, you and your family shall operate under the protection of God. NO EVIL shall befall you neither shall you know sorrow. Eleventh hour blessings of God shall be upon you and your household. You started the year strong and you shall end strong. Any area of your life that require the touch of God shall receive same. God shall continue to direct your path in all that you will do in the new month and beyond in Jesus name. Welcome to November, our month of DIVINE PROTECTION. Happy new month to everyone.

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True talk!